Looking for Positive Aspects of the Economic Downturn:
April 20, 2009 4:34 p.m. PST
Our Country, as well as the world, is going through an economic downturn that is unprecedented, in our lifetimes. This effects almost everyone but it is particulary keen if retired. Jobs have been lost, salaries have been reduced and retirement savings have shrunk by as much as 50%. The economy will surely rebound. However, it may not rebound in time to help people who are retired, or are about to retire. The worry and fear that accompanies this economic downturn are not good for our health. The healthiest thing we can do right now is to build a new plan to survive This will free you from stress and let you really live your life.
You may be fine financially. However, if you are no longer comfortable with your financial future, you may want to consider seeking guidance, in order to create a financial plan for to assess your ability to stay retired. If you need to return to work, you may be able to find a part time job doing something you really enjoy.
If you have been retired for a while, your health and lack of recent experience may make it difficult to find a part-time job. Be creative thing about special skill you have developed or hobbies that could generate income. Even a small amount of additional income can be helpful. Outside of work this can be done through renting rooms in your house to others, getting a Reverse Mortgage.
You may want to combine income generation with a reduction in your expenses. This could be accomplished by downsizing your home and moving to a smaller dwelling. This is a decision that you may require extensive thought, and help from those whose input your respect. This could also be a wonderful opportunity to help your grown children, by inviting them to move in with you. They may also be struggling in this economy; as such, this could be a great benefit for them as well. In addition to providing a home, you may also decide to assist with your grandchildren. In exchange, you will be able to spend your day with people you love and those who love you. This is a great opportunity to enjoy activities that may be inexpensive or free. For example, some of our happiest times are spent doing things that cost nothing at all, including: talking with friends, playing board games, going for walks, going to the library or going to a museum. You could grow a vegetable garden. This will provide healthy, organic food for you and, perhaps, something you can share with friends.
One of the best things you can do to cheer yourself up is to help others. You may not have money to contribute to charities, but you probably have time to volunteer. There are many people in need of food or services. You can help in a soup kitchen, deliver meals to seniors, or provide food for those in need. There are many other opportunities for volunteering. We are one human family and it feels good to help.
Another healthy thing we can do for ourselves is to keep a gratitude journal. It is important to not lose sight of all the wonderful things we have in our lives. Every night before going to bed, sit quietly, take a few deep breaths and write five positive things that happened that day in your gratitude journal. These things can be as simple as spending a pleasant moment with a family member or friend. Concentrating on the good things in our lives will help use to keep a positive attitude.
Mark Halsey
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